sPower, a renewable energy independent power producer (IPP), has acquired nine solar projects in New York from National Grid Renewables. The portfolio includes projects in Franklin, Jefferson, Chautauqua, Lewis and other counties across Upstate New York. This portfolio is estimated to have a 1 GW DC capacity.
Six of the nine projects are currently in the early stages of the Article 10 permitting application process. The projects are expected to reach commercial operation between December of 2022 and December of 2023.
The news of this portfolio acquisition from National Grid Renewables comes as sPower announces a merger with The AES Corp.’s U.S.-based clean energy development business. sPower has been jointly-owned by AES and Alberta Investment Management Corp. (AIMco) since 2017. The AES-sPower transaction is expected to close in the next few months upon successful completion of customary closing conditions. AES Clean Energy will also include AES Distributed Energy and a wind development team formerly part of Advanced Energy. The merged business will represent one of the top renewable growth platforms in the country. In New York, the company will have a combined operating portfolio of nearly 150 MW DC and a more than 1 GW development portfolio.
“Our merged renewables platform will bring together sPower and AES’ differentiated capabilities in solar, wind and energy storage,” says Leo Moreno, president of AES Clean Energy. “Through this platform, we look to accelerate the transition to a carbon-free future, a vision we share with New York. We are thrilled to further expand in New York and look forward to continuing to build a platform that is uniquely positioned to help the state realize its goal of 70% renewable energy by 2030.”
The more than 1 GW acquired portfolio will provide significant benefits to the region, including economic benefits for the local communities, counties and state in the form of clean, renewable energy generation and economic development through construction, operations and maintenance jobs, expenditures for supplies and materials, lease payments to participating landowners and tax payments to local communities. sPower also intends to hire local union labor, whenever possible, throughout the portfolio’s development.
Photo: National Grid Renewables’ landing page
